Groww's parent company shares jump 20% after Jefferies' 'Buy' rating and growth projection.
Summary
Shares of Billionbrains Garage Ventures, Groww's parent company, surged over 20% in three days after Jefferies initiated coverage with a 'Buy' rating. The brokerage cited Groww's "Robinhood-like" strategy and projected 35% earnings growth, setting a target price of Rs 180. While this news reflects market sentiment for a fintech platform, daily fluctuations in individual stock prices are generally not considered directly relevant for competitive exam preparation, which focuses on broader economic trends or policy changes.
Key Points
- 1Groww is a fintech platform whose parent company is Billionbrains Garage Ventures.
- 2Investment bank Jefferies initiated coverage on Groww with a 'Buy' rating.
- 3Jefferies projected a 35% earnings growth for Groww, driven by new products.
- 4The brokerage firm set a target price of Rs 180 for Groww's shares.
- 5Groww's market strategy was characterized as "Robinhood-like" by Jefferies.
Full Article
Billionbrains Garage Ventures, parent of Groww, saw its shares surge over 20% after Jefferies initiated coverage with a Buy rating. The brokerage highlighted Groww's "Robinhood-like" strategy, expecting 35% earnings growth driven by new products and margin improvements, setting a target price of Rs 180.